The people who are buying stocks because they're going up and they don't know what they do deserve to lose money.

We typically hear numbers that there are 34 million households that are in stocks in some form. Well, I say that what’s occurred is if you have a job in this country, you’re in stocks.

If you can’t find the next McDonald’s, I’ll find the next McDonald’s. But it’s vital to be with people who with looking for ’em, because they do exist. They are created.

It’s the company itself, but most of these mutual fund companies, the guy who runs the company is just a fact totem and the guy who runs the money is the power. But we really don’t know who they are.

I think that there are changes that have occurred in technology that make is that more people can have the same level of information that I have. My advantage is that I’m very good at interpreting the information.

I think that the public is in and the public is in big, and the public is not, I don’t think going to pull out because the public knows what I said about 1987.

Well, he’s just the same guy who in other aspects of his life would be very late to a trend.

I mean that what makes me a professional, but the market itself has been fabulous during this whole period and I’ve got to give the market credit before I give myself credit.

I think you’ll do as well as most professionals. Most professionals don’t beat the market. Let’s not over-rate my industry. But if you have time, you can be in good mutual funds that have good records.

I mean it’s the most objective industry in the world. If your numbers stink, you’re out. If your numbers are good, you get more money. It’s the most Darwinian, it’s beautiful, it’s brutal, it works.